FCA authorised crowdfunding aggregation platform InvestUp may be going crypto. The UK based Fintech has so far focused on the peer to peer lending space but management is currently looking at adding algorithm driven cryptocurrency investing.
InvestUp shares that 2017 has been another good year for P2P lending having delivered, on average, 10.74% to investors. InvestUp said they have experienced steady growth fueled in part to the IFISA.
InvestUp said they have seen an interesting shift in some of the platforms they work with as some have developed their own auto investing features while others have migrated towards a portfolio management service. Additionally, some platforms are apparently becoming less transparent and the long-delayed post-implementation review by the FCA is apparently not helping.
Perhaps the most interesting development is that InvestUp may provide robo-investing in cryptocurrencies at some point in 2018. This is due to rising investor interest. If they can create an algo for purchasing P2P assets, why not crypto?
“Having undertaken some initial research, we believe that we can interpret demand (adoption curve) and supply (mining and scarcity) of existing and new cryptocurrencies, by analysing a variety of factors. We are confident that we could develop a product, alongside P2P lending. So, we would like your help to understand your interest and the potential demand for this new product, before committing resource into developing it.”
This is an interesting development for InvestUp and one to watch in the coming year.